Banking Made Easy. Concepts n Awareness

Banking Made Easy. Concepts n Awareness Current Terminologies, Concepts & Awareness about Banking. New Vacancies and Interview questions. Sh

07/11/2016

What is a SHG?

Self help group is a small volunteer association of poor people preferably from the same socio Economic background. They come together for the purpose of solving their common problems through self help and mutual help.
The self help group promotes small saving among the members. The savings are kept with the Bank. This common fund is in the name of SHG. Usually the number of members in one SHG doesn’t exceed 20.

05/11/2016

What are Payments Bank?

Payments banks are a new model of banks conceptualised by the Reserve Bank of India (RBI). Difference from a general bank is that these banks can accept a restricted deposit which is currently limited to INR 1 lakh per customer account and these banks cannot issue loans and credit cards.
Both current account and savings accounts can be operated by such banks.
Payments banks can issue services like ATM cards, debit cards online banking and mobile banking.
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01/11/2015

OVERDRAFT: It is the loan facility on customer account at a bank permitting him to overdraw up to a certain agreed limit for a agreed period ,interest is payable only on the amount of loan taken up.

01/11/2015

Anytime Banking: With introduction of ATMs, Tele-Banking and internet banking, customers can conduct their business anytime of the day and night.
The 'Banking Hours' is not a constraint for transacting banking business.

Anywhere Banking : Refers to banking not only by ATMs, Tele-Banking and internet banking, but also to core banking solutions brought in by banks where customer can deposit his money, cheques and also withdraw money from any branch connected with the system. All major banks in India have brought in core banking in their operations to make banking truly anywhere banking.

Source: Bankersadda

13/10/2015

Mudra loan.

With so many welfare schemes already launched by Prime Minister, PM Mudra yojana (PMMY) just adds to the delight of unbanked population of India.

As says the Prime Minister himself, ‘the unbanked have been banked’, its now time to ‘Fund the Unfunded’.
The ‘Mudra’ stands for Micro Units Development and Refinance Agency.

PM Mudra Bank would act as a facilitator to provide credit of up to Rs 10 lakh to people who are engaged in small businesses and thus regulate micro-finance promoters in the country.

The loan is categorised as:
Shishu loan upto 50000 INR
Kishor loan upto 5 lakh INR
Tarun loan upto 10 lakh INR

11/10/2015

What is a mobile wallet?

It's a mobile-based virtual wallet, where you preload a certain amount in your account created with the mobile wallet service provider, and spend it at online and offline merchants listed with the mobile wallet service provider.

Major Players: Airtel Money, ikaaz, mRupee, Vodafone m-Pesa, Oxigen Wallet, Paytm, Mobikwik and Idea

Source: The Times of India

11/10/2015

RBI New policy rates are :
Repo rate - 6.75%;
Reverse repo rate - 5.75%,
Marginal standing facility (MSF) rate and the Bank Rate at 7.75%.
CRR continues to be at 4%
SLR rate - 21.5%

01/03/2015

What is an Arbitrage:
Buying a financial instrument in one market in order to sell the same instrument at a higher price in another market.

Automated Clearing House (ACH):
A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits. ACHs process electronic transfers of government securities and provided customer services, such as direct deposit of customers' salaries and government benefit payments (i.e., social security, welfare, and veterans' entitlements), and preauthorized transfers.

25/02/2015

What is SEZ?
A: SEZ means Special Economic Zone is one of the part of government’s policies in India. A special Economic zone is a geographical region where economic laws are more liberal than the usual economic laws in the country. The basic motto behind this is to increase foreign investment, development of infrastructure, job opportunities and increase the income level of the people.

25/02/2015

What is FII?
A: FII (Foreign Institutional Investor) used to denote an investor, mostly in the form of an institution. An institution established outside India, which proposes to invest in Indian market, in other words buying Indian stocks. FII's generally buy in large volumes which has an impact on the stock markets. Institutional Investors includes pension funds, mutual funds, Insurance Companies, Banks.

22/02/2015

CAMELS is a rating tool used in banking.

The components of a bank's condition that are assessed:

(C)apital adequacy
(A)ssets
(M)anagement Capability
(E)arnings
(L)iquidity (also called asset liability management)
(S)ensitivity (sensitivity to market risk, especially interest rate risk)

Ratings are given from 1 (best) to 5 (worst) in each of the above categories.

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